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For All The “i Have A Great Idea Where Do I Start” People

Noticed this and many subreddits have people dumping their ideas here asking for market validation.

The more important question is self-validation. If you take on this “whatever the business idea is. Cool. But now this your job.

And you are here to make money (90% of you at least).

So how to validate if the idea you are about to undertake is actually worth it.

Simple. The total amount of money you want to make in a month (can be pre or post tax) divided by the amount of hours you are willing to work in a month you want to work.

For example, if you put in the standard work hour week and do 160 hours a month and want to make $3000.

= 3000 US Dollars/160 working hours = $18,75

Then add on taxes, do it per hour. Whatever taxes you pay, let us say 20%in this case.

= $18,75 + ($18,75*0,20) = $22,05

If you are not willing to work for $22,05 an hour OR whatever work you are doing does not pay you about that amount.

You need to ask yourself if what you are doing is worth it.

Forget stock options and billions. Everyone has to start from somewhere with putting in the hard grind.

Now if your motivation is money and the math ain’t mathing for you. Maybe you should send that idea to the grave.

The other trick this exercise does it, it makes you understand time value into the business and that now you have to spend at least 160 hours on the idea.

Works for visual thinking people especially.

submitted by /u/oftheeye
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For All The “i Have A Great Idea Where Do I Start” People

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